23 Jun Which one of the following terms is define
Which one of the following terms is defined as a conflict of interest between the corporate shareholders and the corporate managers?
A. Articles of incorporation.
B. Corporate breakdown.
C. Agency problem.
D. Bylaws.
E. Legal liability.
2.
Which one of the following functions should be the responsibility of the controller rather than the treasurer?
A. Daily cash deposit.
B. Income tax returns.
C. Equipment purchase analysis.
D. Customer credit approval.
E. Payment to a vendor.
3.
Sally and Alicia currently are general partners in a business located in Atlanta, Georgia. They are content with their current tax situation but are both very uncomfortable with the unlimited liability to which they are each subjected. Which form of business entity should they consider to replace their general partnership assuming they wish to remain the only two owners of their business? Whichever organization they select, they wish to be treated equally.
A. Sole proprietorship.
B. Joint stock company.
C. Limited partnership.
D. Limited liability company.
E. Corporation.
4.
Which one of the following best states the primary goal of financial management?
A. Maximize current dividends per share.
B. Maximize the current value per share.
C. Increase cash flow and avoid financial distress.
D. Minimize operational costs while maximizing firm efficiency.
E. Maintain steady growth while increasing current profits.
5.
Which of the following are cash flows from a corporation into the financial markets?
I. Repayment of long-term debt.
II. Payment of government taxes.
III. Payment of loan interest.
IV. Payment of quarterly dividend.
A. I and II only.
B. I and III only.
C. II and IV only.
D. I, III, and IV only.
E. I, II, and III only.
6.
Wagner Industrial Motors, which is currently operating at full capacity, has sales of $2,330, current assets of $670, current liabilities of $360, net fixed assets of $1,520, and a 5 percent profit margin. The firm has no long-term debt and does not plan on acquiring any. The firm does not pay any dividends. Sales are expected to increase by 10 percent next year. If all assets, short-term liabilities, and costs vary directly with sales, how much additional equity financing is required for next year?
A. $171.35
B. $54.85
C. $11.65
D. $233.00
E. $244.65
7.
A firm has a retention ratio of 37 percent and a sustainable growth rate of 11.60 percent. The capital intensity ratio is 1.37 and the debt-equity ratio is .72. What is the profit margin?
A. 23.75 percent
B. 16.33 percent
C. 28.09 percent
D. 22.38 percent
E. 20.50 percent
8.
Major Manuscripts, Inc.
2012 Income Statement
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